BillingPlatform Experiences 80% YoY Revenue Growth Driven by Major Enterprise Customer Wins
Revenue Lifecycle Management leader differentiates from competitors and expands market share through platform innovations designed to address changing customer needs
BillingPlatform, the enterprise monetization platform for today’s innovative business models, announced key metrics of its growth and momentum in 2022. Last year, the company experienced 80% revenue growth and 78% bookings growth, all while maintaining industry leading customer retention rates.
BillingPlatform’s commitment to innovation has accelerated the company’s growth, as the company saw its enterprise customer base increase 38% in 2022 with major names such as CCC Intelligent Solutions Inc., Otava, InComm Payments, Vantage Towers and Emburse. BillingPlatform has maintained consistent growth for the last three years, experiencing a three-year revenue growth rate of 243%, which put them on the Deloitte Fast 500 for the third consecutive year. Also in that same three-year period, the company grew its billings under management by 250%.
Focused on innovation, BillingPlatform releases monthly updates to offer the most comprehensive solutions and capabilities to its customers. One such enhancement last year was a new configure, price, quote (CPQ) module that helps B2B organizations offer a fast, seamless experience configuring and buying products and services customized to buyers’ needs. Additionally, to help companies overcome revenue management challenges and be equipped to launch new business models quickly, BillingPlatform enhanced its Revenue Recognition solution that automates all revenue recognition processes and can be tailored to exact business needs — supporting any monetization strategy, any contract change, any customer event and any sales strategy.
Based on these innovations and customer momentum, the company was recognized by many industry leaders and awards programs for its success and achievements over the last year. BillingPlatform was named a Leader by IDC in its 2022 MarketScape for Enterprise-focused Subscription and Usage Management Applications. Analysts highlighted BillingPlatform’s real-time solution that “has centralized price management, price simulation, dynamic pricing support and supports more than 25 pricing models.”
BillingPlatform was also named to Constellation Research’s Smart Services Digital Monetization ShortListÔ for 2022 and positioned as an Automated Revenue Management Market Leader by MGI Research based on an independent analysis of its product, management, strategy, finances and channels. The company was also honored by Best in Biz Awards for its third consecutive year, listed No. 2,396 on the 2022 Inc. 5000 and named a winner in the 2021 Colorado Companies to Watch list.
“Last year was defined by an accelerating opportunity for us, as larger enterprises looked to digitally transform their entire revenue management operations to introduce new business models and automate the quote-to-cash process,” said Dennis Wall, BillingPlatform’s CEO. “Our continued growth and success are driven by our modern, flexible platform that addresses any revenue management scenario and is a cornerstone for companies looking to transform their financial middle office.”